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HOME AFFORDABILITY WORSENS AGAIN ACROSS U.S. IN FOURTH QUARTER AS HOME PRICES KEEP CLIMBING

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Major Home-Ownership Expenses Consume 34 Percent of National Average Wage;

IRVINE, Calif., Dec. 19, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its fourth-quarter 2024 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in the fourth quarter of 2024 compared to historical averages in 98 percent of counties around the nation with enough data to analyze. The latest trend continues a three-year pattern of home ownership requiring historically large portions of wages as U.S. home prices keep reaching new heights.

The report also shows that major expenses on median-priced homes currently consume 34 percent of the average national wage. That level marks an increase of more than one percentage point both quarterly and annually, pushing the figure even farther above the common 28 percent lending guideline preferred by lenders.

The downturns in current and historic affordability represent the latest measures of how home ownership remains a financial stretch for average workers around the nation. They come as the national median home price has climbed to $364,750 this quarter and mortgage rates, while declining, remain over 6 percent. Combined, those forces are helping to keep the ratio of ownership expenses to wages in the unaffordable range.

Fourth-quarter trends also have reversed a slight improvement during the third quarter of this year that had signaled a possible step in the right direction for homeowners. The portion of average wages nationwide required for typical mortgage payments, property taxes and insurance now stands almost 13 points beyond a low point reached early in 2021, right before home-mortgage interest rates shot up from the lowest levels in decades.

“The U.S. housing market continues to generate great profits for most home sellers but also more and more financial stress for would-be buyers. Average workers now must shell out a larger portion of their wages for major home-ownership expenses than at any time since right before the housing market tanked in the late 2000s,” said Rob Barber, CEO for ATTOM. “Despite recent declines in mortgage rates, down payments on typical home purchases have reached four times the average national wage.”

He added that “at some point, something’s got to give, or a growing number of buyers will have no choice but to toss in the towel and wait for home ownership to become more affordable. But we clearly are not there yet.”

The latest numbers reflect yet another period when year-over-year changes in major expenses on typical single-family homes and condos have outrun changes in average wages around the country. Expense totals have either grown faster or declined less than wages during 14 of the last 15 quarters dating back to late 2020, pushing affordability in the wrong direction for house hunters.

The report determines affordability for average wage earners by calculating the amount of income needed to meet major monthly home ownership expenses — including mortgage payments, property taxes and insurance — on a median-priced single-family home and condo, assuming a 20 percent down payment and a 28 percent maximum “front-end” debt-to-income ratio. That required income is measured against annualized average weekly wage data from the U.S. Bureau of Labor Statistics (see full methodology below).

Compared to historical levels, median home ownership costs in 556 of the 566 counties analyzed in the fourth quarter of 2024 are less affordable than in the past. That is virtually unchanged from both the third quarter of 2024 and the fourth quarter of 2023.

Historic measures remain negative as the portion of average local wages consumed by major home-ownership expenses on typical homes are considered unaffordable during the fourth quarter of 2024 in about 70 percent of the 566 counties in the report, based on the 28 percent guideline. Counties with the largest populations that are unaffordable in the fourth quarter are Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, CA (outside Los Angeles) and Miami-Dade County, FL.

On the flip side, the most populous of the counties with affordable levels of major expenses on median-priced homes during the fourth quarter of 2024 are Cook County (Chicago), IL; Harris County (Houston), TX; Wayne County (Detroit), MI; Philadelphia County, PA, and Cuyahoga County (Cleveland), OH.

View Q4 2024 U.S. Home Affordability Heat Map

National median home price up quarterly and annually amid mixed picture at county level
The national median price for single-family homes and condos has risen to a record high of $364,750 in the fourth quarter of 2024. The latest figure represents a 2.1 percent increase over the third quarter of this year and is 11.4 percent above the typical price in the fourth quarter of 2023.

At the county level, the pattern is more varied. Median home prices have increased since the fourth quarter of last year in 503, or 88.9 percent, of the 566 counties included in the report. Quarterly, however, typical values they have risen in only 210, or 37.1 percent of those markets. That is a sign that the latest jump in national median price may be driven more by larger numbers of sales in markets with bigger increases.

Data was analyzed for counties with a population of at least 100,000 and at least 50 single-family home and condo sales in the fourth quarter of 2024 with sufficient data.

Among the 47 counties in the report with a population of at least 1 million, the biggest year-over-year increases in median prices during the fourth quarter of 2024 are in Bronx County, NY (up 13.3 percent annually); Wayne County (Detroit), MI (up 12.9 percent); Cook County (Chicago), IL (up 12.1 percent); Suffolk County (Long Island), NY (up 11.5 percent) and Santa Clara County, CA (up 11 percent).

The only counties with a population of at least 1 million where median prices remain down from the fourth quarter of 2023 to the same period this year are New York County (Manhattan), NY (down 3.3 percent) and Kings County (Brooklyn), NY (down 1 percent).

Prices improving more than wages in three-quarters of U.S.
As home values keep rising throughout most of the U.S., year-over-year price changes have outpaced changes in weekly annualized wages during the fourth quarter of 2024 in 429, or 75.8 percent, of the counties analyzed in the report. That has helped push affordability levels down for average workers around the country.

The latest group of counties where prices have increased more than wages annually include Los Angeles County, CA; Cook County, (Chicago), IL; Maricopa County (Phoenix), AZ; San Diego County, CA, and Orange County, CA (outside Los Angeles).

On the other side of the spectrum, year-over-year changes in average annualized wages have bested price movements during the fourth quarter of 2024 in just 137 of the counties analyzed (24.2 percent).

Home ownership consuming larger portion of wages in majority of U.S.
Despite falling mortgage rates in recent months, the portion of average local wages consumed by major expenses on median-priced single-family homes and condos has risen quarterly in 357, or 63.1 percent, of the 566 counties analyzed, although it is still down annually in slightly more than half.

Nationwide, the typical $2,092 cost of mortgage payments, homeowner insurance, mortgage insurance and property taxes is up 4.6 percent quarterly and 6.1 percent annually to a new all-time high. That has outpaced the 1 percent quarterly and 3.1 annual gains in the average national wage.

The latest expense total commonly consumes 34 percent of the average annual national wage of $73,918. That is up from 32.5 percent the third quarter of 2024 and from 32.7 percent in the fourth quarter of last year. The current level is nearly 13 percentage points more than a recent low point of 21.3 percent hit in the first quarter of 2021.

The cost-to-wage ratio exceeds the 28 percent lending guideline in 436, or 77 percent, of the counties analyzed, assuming a 20 percent down payment. That percentage is unchanged from the third quarter of 2024, based on the same group of counties, but is up slightly from 75.4 percent a year ago. It is far above the 31 percent figure recorded in early 2021.

In about one-third the markets analyzed around the U.S., major expenses consume at least 43 percent of average local wages, a benchmark considered seriously unaffordable.

Affordability downturns over the past year have hit hardest in low- and mid-priced markets, where prices fall below $350,000, with concentrations in the Northeast and Midwest. Those areas generally have been among the more affordable for local wage earners – a sign that they could be headed into the same difficult territory as more expensive markets.

Home ownerships on Northeast and West coasts still pose biggest financial burden for buyers
All but two of the top 25 counties where major ownership costs require the largest percentage of average local wages in the fourth quarter of 2024 are on the Northeast or West coasts, extending past trends. The leaders are Santa Cruz County, CA (115.5 percent of annualized local wages needed to buy a single-family home or condo); Maui County, HI (114.6 percent); Marin County, CA (outside San Francisco) (109.7 percent); Kings County (Brooklyn), NY (106.5 percent) and San Luis Obispo County, CA (96.2 percent).

Aside from Kings County, those with a population of at least 1 million where major ownership expenses typically consume more than 28 percent of average local wages in the fourth quarter of 2024 include Orange County, CA (outside Los Angeles) (96 percent required); Queens County, NY (79.4 percent); Alameda County (Oakland), CA (77.2 percent) and San Diego County, CA (72.9 percent).

Counties where the smallest portion of average local wages are required to afford the median-priced home during the fourth quarter of this year are Cambria County, PA (east of Pittsburgh) (11.5 percent of annualized weekly wages needed to buy a home); Schuylkill County, PA (outside Allentown) (12.8 percent); Macon County (Decatur), IL (13.3 percent); Peoria County, IL (13.4 percent) and Mobile County, AL (13.6 percent).

Wage needed to afford typical home 21 percent above U.S. average
Major home ownership expenses on typical homes sold in the fourth quarter of 2024 require an annual income of $89,649 to be affordable. That is 21.3 percent more than the latest average national wage of $73,918.

Annual wages of more than $75,000 are needed to pay for major costs on median-priced homes purchased during the fourth quarter of 2024 in 325, or 57.4 percent, of the 566 markets in the report. That continues to pose major obstacles as average wages exceed that amount in just 13.6 percent of the counties reviewed.

The 20 counties with the highest annual wages required to afford typical homes remain along the east or west coasts, led by San Mateo County, CA ($404,277); Santa Clara County (San Jose), CA ($377,190); Marin County, CA (outside San Francisco) ($360,875); New York County (Manhattan), NY ($357,923) and San Francisco County, CA ($346,004).

The lowest annual wages required to afford a median-priced home in the fourth quarter of 2024 are in Cambria County, PA (east of Pittsburgh) ($20,235); Schuylkill County, PA (outside Allentown) ($24,415); Robeson County, NC (outside Fayetteville) ($26,656); Mercer County, PA ($27,390) and Mobile County, AL ($29,356).

Home ownership still unaffordable by historical standards throughout U.S.
Home ownership is less affordable in the fourth quarter of 2024 compared to historic averages in 98.2 percent of the 566 counties analyzed. That is about the same as the level in both the third quarter of 2024 and the fourth quarter of last year, but more than 20 times higher than the 4.6 percent portion in the first quarter of 2021.

Historical indexes have worsened quarterly, mostly by small amounts, in about two-thirds of the counties reviewed. That had dropped the nationwide index to its lowest point since 2007.

Counties with a population of at least 1 million that are less affordable than their historic averages (indexes of less than 100 are considered historically less affordable) include Wayne County (Detroit), MI (index of 61); Fulton County (Atlanta), GA (65); Mecklenburg County (Charlotte), NC (65); Broward County (Fort Lauderdale), FL (65) and Hillsborough County (Tampa), FL (66).

Overall, counties with the worst affordability indexes in the fourth quarter of 2024 are Jasper County (Carthage), MO (index of 54); Jackson County, MS (56); Beaver County, PA (outside Pittsburgh) (56); Navajo County, AZ (Holbrook), AZ (57) and Muskegon County, MI (57).

The nationwide index of 74 is worse than in the third quarter of this year (78) and the fourth quarter of last year (77).

Report Methodology
The ATTOM U.S. Home Affordability Index analyzed median home prices derived from publicly recorded sales deed data collected by ATTOM and average wage data from the U.S. Bureau of Labor Statistics in 566 U.S. counties with a combined population of 250.7 million during the fourth quarter of 2024. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed-rate mortgage and a 20 percent down payment. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate monthly house payments.

The report determined affordability for average wage earners by calculating the amount of income needed for major home-ownership expenses on median-priced homes, assuming a loan of 80 percent of the purchase price and a 28 percent maximum “front-end” debt-to-income ratio. For example, affording the nationwide median home price of $364,750 in the fourth quarter of 2024 requires an annual wage of $89,649. That is based on a $72,950 down payment, a $291,800 loan and monthly expenses not exceeding the 28 percent barrier — meaning wage earners would not be spending more than 28 percent of their pay on mortgage payments, property taxes and insurance. That required income is more than the $73,918 average wage nationwide, based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide unaffordable for average workers.

About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloudbulk file licensesproperty data APIsreal estate market trendsproperty navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – AI-Ready Solutions.

Media Contact:
Megan Hunt
Megan.hunt@attomdata.com

Data and Report Licensing:
949.502.8313
datareports@attomdata.com

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M.T.I Prop Funding Program: A New Era in Trading Begins

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Become a Professional Trader with 0 Capital

KUALA LUMPUR, Malaysia, March 11, 2025 /PRNewswire/ — Did you know? Starting now, anyone can become a professional trader without needing their own funds.

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China.org.cn:Foreign Ambassadors’ Views on China’s Economy in 2025

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BEIJING, March 10, 2025 /PRNewswire/ — In today’s world, with the sluggish global economic recovery and the rising trend of trade protectionism,we are faced with many challenges. As the top contributor of global economic growth, China’s economy has always been the focus of the world’s attention. During this year’s two sessions, China Talk of China.org.cn has interviewed ambassadors and counselors from various countries to share their views on China’s economy in 2025 and the cooperation between China and their countries.

Peter Lizak, Ambassador of Slovakia to China: China has been developing in tremendous ways over the last 40 years, and let me congratulate to the results you have achieved. Over the years, Chinese people have achieved good results and that is really the situation. You are now turning from the extensive development to intensive development, from quantity to quality. As Chinese President formulated, rejuvenation of the country. So you are focusing on the most prominent, more modern part of the economy. And I think these will be discussed during these days.

China is one of the most important players in the world, and global partners expect from China a stable and reliable approach for solutions to world questions and challenges.  

John Busuttil, Ambassador of Malta to China: The global economy is in a very difficult situation right now. Europe is also faced with challenges. But China’s economy, we hope that the situation improves and that the plans made during two sessions will help. Because if China’s economy improves, the global economy will also improve. And also we hope that relations and trade between the European Union and China will continue to grow, because more trade we have, more prosperity there will be for the people. Malta, as a member of the European Union, as I mentioned, we hope that trade relations will be increased and the relationship between both global players (China and EU) will get better and better. We have our foreign Minister coming in July to China, and we hope that the discussions between China and Malta will continue. We have very long diplomatic relations with China since 1972, and the relations are very strong. Malta is a neutral country. We hope that peace and prosperity of the the two nations will continue to improve for the best benefit of the whole global economy and the global situation.

Fernando Lugris, Ambassador of Uruguay to China:I think it’s very important for the international community, and especially for countries like Uruguay, that have such a close trade and economic relationship with China, to hear the indications that the government is going to provide to the public during the two sessions.

We hope to hear good news. We hope to hear that China will continue to be the engine of the world economy as it has been in the last decades. We have a new government in Uruguay, and the new authorities are hoping to be able to elevate our comprehensive strategic partnership (with China) to a new level. We have a very close relation with China, and especially China is our number one trading partner. So we are hoping to be able to increase and diversify the goods that we export to China, to be also able to export more services and to negotiate new frameworks for more investments to come.

So we are having a lot of conversations and hoping to have a lot of high-level meetings and visits from both sides in order to make this comprehensive strategic partnership into a new beginning with this new Uruguayan administration.

Alfredo Ortuno Victory, Ambassador of Costa Rica to China: We are very happy to be here to hear the perspective of China for 2025. I hope everything is good for the Chinese people and for the people of my country. I expect China’s economy to be more or less the same as 2024, around 5% of GDP increase. My country Costa Rica is looking forward very pleasantly to major cooperation with China in terms of trade and in terms of more profound cooperation. We have a very interesting matrix of products. We send to China more than 800 different products. And we import a lot from China as well.

Miguel Humberto Lecaro Barcenas, Ambassador of Panama to China: If you were in China many years ago, you can see the difference. You can be a witness of the big development of the economy of China. We have a good relationship in this moment between Panama and China and to develop the commerce and trade with all the world. The main importance of Panama is the geographical position. It’s in the middle of the Americas. And then we play an important role in the trade and commerce of China in the American continent.

Allan Joseph Chintedza, Ambassador of Malawi to China:We always expect the Chinese economy to be stronger because the stronger economy (of China) serves us well because of the Belt and Road Initiative and the relationship that we have under the Forum on China-Africa Cooperation. You may remember last year in September, we had heads of states from the African continent. And what we have said is that the relationship between China and Africa is quite crucial. Because when you combine the two populations, we can create a huge market, which is win-win for both China and Africa.

Now, specifically for Malawi, Malawi is an agricultural country and having a close relationship with China in terms of the modernization of agricultural sector, which is again a win-win (cooperation). Because we expect exporting raw materials, products like soybeans, chilies, groundnuts and macadamia. So all these China will be able to use. And for us in return, we hope we can be able to import mechanization, tractors, drones, which indeed does bring in mechanization and modernization to our agricultural sector.

Kenneth Rabale, Ambassador of Lesotho to China: The economy of China seems to be kind of balancing. And the cooperation between Lesotho and China seems to be very good for a long time. More than 40 years ago, we have started the relationship with China and everything seems to be smooth, especially with regard to the partnership that exists between the two countries in terms of trade, bilateral relations, etc. I think China seems to be kind of improving technologically. China is the best country in terms of technological development. So we are learning from it. We are actually cooperating closely with China in many aspects.

Arlindo do Rosário, Ambassador of Cape Verde to China:China makes the same target as 2024, 5%, which is a challenge because the global situation is not good, but I think it’s possible. China is a great country, great economy, with very good qualification. So I think if the government sets its target as 5%, I think it will be possible. I think the economy will grow. Maybe with more difficulty, but I think it is possible (for China) to do it. I hope that the cooperation between China and Cape Verde will continue to grow. Next year is the 50th anniversary of the relationship between Cape Verde and China. And so I have a great hope that this cooperation can go to a higher level.

Antonio Monsuy Esono, Counselor of the Equatorial Guinean Embassy in China: China’s economy is developing very fast and China offers a great help to Africa. The relationship between Equatorial Guinea and China goes well in all aspects, I am very happy to work in China to do something for the relationship between the two countries. Equatorial Guinea and China have established diplomatic relations for 55 years, and the cooperation between the two countries in all aspects is very good. I feel that China’s political system is very good. Chinese government works for their people.

Abdullah Almantheri, Counselor of the Embassy of Oman in China: I think the Chinese economy is heading upwards, it might face some challenges, global challenges, and that’s very natural. And the Chinese economy is progressing very confidently. It’s moving on. It’s focusing on high-tech, artificial intelligence, etc. I think it will just keep going on and keep improving. And this is my wish as well, because I’m in love with this country. Most of the things I use are China-made.

Thanks to the long history of cooperation between the two countries, not only commercially, but also politically, the level of cooperation and the economy between China and Oman is improving. It’s going to be even better in the coming days because Oman is now focusing a lot on opening up with the Chinese economy. I think in 2025, we’re going to see a leap in the economic cooperation between the two countries.

Foreign Ambassadors’ Views on China’s Economy in 2025
http://fangtan.china.com.cn/2025-03/09/content_117755787.htm

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Wayfair Prices Offering of $700 Million Senior Secured Notes

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BOSTON, March 11, 2025 /PRNewswire/ — Wayfair Inc. (NYSE: W) (the “Company,” “we” or “Wayfair”) today announced the pricing by its subsidiary, Wayfair LLC (the “Issuer”), of its private offering of $700 million in aggregate principal amount of 7.750% senior secured notes due 2030 (the “Notes”). The Notes will mature on September 15, 2030, unless earlier repurchased or redeemed in accordance with their terms. The Notes offering is expected to close on March 13, 2025, subject to customary closing conditions.

We intend to use a portion of the net proceeds from the Notes offering to purchase approximately $580 million aggregate principal amount of our outstanding 1.00% convertible senior notes due 2026 (the “2026 Notes”) from certain investors that agreed to sell us such 2026 Notes concurrent with the pricing of the Notes offering. We intend to use the remainder of the net proceeds for general corporate purposes, which may include the repayment or repurchase of existing indebtedness including our outstanding 0.625% convertible senior notes due 2025 (the “2025 Notes”) or additional 2026 Notes. We expect that certain holders of the 2025 Notes or 2026 Notes that we purchase who have hedged their equity price risk with respect to such 2025 Notes or 2026 Notes will unwind all or part of their hedge positions by buying our Class A common stock or entering into or unwinding various derivative transactions with respect to our Class A common stock. As a result, our anticipated purchases of 2025 Notes and 2026 Notes and the potential related market activities by holders of such repurchased 2025 Notes or 2026 Notes could increase (or reduce the size of any decrease in) the market price of our Class A common stock. The Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Wayfair and certain Wayfair domestic subsidiaries that guarantee the Issuer’s senior secured revolving credit facility and existing senior secured notes. The Notes and related guarantees will be secured on a first-priority basis by liens on the same assets that secure the Issuer’s senior secured revolving credit facility and existing senior secured notes.

Substantially concurrently with the issuance of the notes, we intend to enter into an amended and restated credit agreement (the “Amended and Restated Credit Agreement”) to, among other things, establish a new credit facility, which we expect will (x) extend the maturity of the credit facilities to 2030 (subject to a springing maturity in certain circumstances) and (y) provide for commitments in an aggregate amount equal to $500.0 million. Syndication efforts to arrange the Amended and Restated Credit Agreement were successful.

The Notes and related guarantees have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons in accordance with Regulation S under the Securities Act.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offer of the Notes and related guarantees is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. This press release also shall not constitute an offer to purchase, a solicitation of an offer to sell, or notice of redemption with respect to any of Wayfair’s outstanding convertible notes.

About Wayfair
Wayfair is the destination for all things home, and we make it easy to create a home that is just right for you. Whether you’re looking for that perfect piece or redesigning your entire space, Wayfair offers quality finds for every style and budget, and a seamless experience from inspiration to installation.

The Wayfair family of brands includes:

Wayfair: Every style. Every home.AllModern: Modern made simple.Birch Lane: Classic style for joyful living.Joss & Main: The ultimate style edit for home.Perigold: The destination for luxury home.Wayfair Professional: A one-stop Pro shop.

Wayfair generated $11.9 billion in net revenue for the year ended December 31, 2024 and is headquartered in Boston, Massachusetts with global operations.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal and state securities laws. All statements other than statements of historical fact contained in this press release, including statements regarding the terms of the Notes; the anticipated use of the net proceeds from the offering of the Notes; the expected closing of the Notes offering; and expectations regarding the repayment of Wayfair’s outstanding convertible notes; whether we will enter into the Amended and Restated Credit Agreement; and expectations regarding the Amended and Restated Credit Agreement, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “continues,” “could,” “intends,” “goals,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on current expectations of future events. We cannot guarantee that any forward-looking statement will be accurate, although we believe that we have been reasonable in our expectations and assumptions. Investors should realize that if underlying assumptions prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. Investors are therefore cautioned not to place undue reliance on any forward-looking statements. We believe that these risks and uncertainties include, but are not limited to, adverse macroeconomic conditions, including economic instability, changes in tax laws, regulations and new or increased tariffs, including based on the recent U.S. presidential election, export controls, sustained higher interest rates, inflation, slower growth or the potential for recession, disruptions in the global supply chain and other conditions affecting the retail environment for products we sell, and other matters that influence consumer spending and preferences, as well as our ability to plan for and respond to the impact of these conditions; our ability to acquire and retain customers in a cost-effective manner; our ability to increase our net revenue per active customer; our ability to build and maintain strong brands; our ability to manage our growth initiatives; and our ability to expand our business and compete successfully. A further list and description of risks, uncertainties and other factors that could cause or contribute to differences in our future results include the cautionary statements herein and in our most recent Annual Report on Form 10-K and in our other filings and reports with the Securities and Exchange Commission. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events or otherwise.

Media Relations Contact:
Tara Lambropoulos
PR@Wayfair.com

Investor Relations Contact:
James Lamb
IR@wayfair.com

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